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The Bangladesh Banks (Nationalisation) Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 26 OF 1972 )

 
 
4. (1) On the commencement of this Order, there shall be constituted such new banks as are specified in column 2 of the Schedule.
 
 
 
 
(2) Every new bank shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Order, to acquire, hold and dispose of property, and to contract, and may sue and be sued in its name.
 
 
 
 
(3) Notwithstanding anything contained in this Order, every new bank may, until the 30th day of April, 1972, or until such time as the Government may, by notification in the official Gazette, fix, 1[* * *], use the name and seal of the existing bank concerned.
 
 
 
 
(4) The head office of every new bank shall be at Dacca.

  • 1
    The words “whichever is earlier” were omitted by Article 2 of the Bangladesh Banks (Nationalisation)(Amendment) Order, 1972 (President’s Order No. 38 of 1972)
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